The stock market and investment financing. Argentine experience in the second post-war period

This paper deals with the study of the stock market in Argentina during the period known as import substitution industrialization (ISI). The paper reviews some international historical experiences where these markets have been crucial for industrial development. For the Argentine case, we analyze the development of this market, the causes of its performance and the government's role in that evolution, distinguishing the different stages within this period of industrialization of Argentina's economy. While these markets can play a significant role in financing the industry, the importance they have had in Argentina was variable, but in the whole they failed to become a general alternative for financing industrial enterprises.